The following information is provided in accordance with section 430(2B) of the Companies Act 2006.
David Atkins’s employment ended on 31 December 2020; he will continue to receive salary and cash in lieu of his pension supplements and his car allowance in equal monthly instalments until 25 May 2021 as payment in lieu of notice. He will also continue to receive private medical cover until 25 May. David will be paid in January £29,148.08 (before deductions for tax) in lieu of accrued but untaken holiday pay up to 31 December 2020.
In accordance with the terms of his service contract, David will remain eligible to be considered for a bonus in respect of the 2020 financial year and any bonus will be subject to deferral in accordance with the Company’s approved remuneration policy.
David’s long term incentive awards granted in 2017, 2018 and 2019 (plus accrued dividend shares) shall remain capable of vesting on their scheduled normal vesting dates to the extent that the relevant performance conditions have been met at the end of the respective performance periods. Awards will be subject to pro-rating for time in employment.
David’s deferred bonus award over 112,219 shares (plus accrued dividend shares) granted on 10 March 2020 will continue to be capable of vesting in March 2022.
The Company has agreed to cover the costs of an executive outplacement programme in an amount up to £50,000 plus VAT and legal fees of up to £12,300 plus VAT.
All payments are in accordance with David’s service contract and the Company’s approved remuneration policy.